LOT 107 Tavern site Information Memorandum VASSE VILLAGE, WESTERN AUSTRALIA
Where is Vasse? Vasse is an award-winning estate situated 10km west of Busselton at the junction of the Busselton Bypass and Bussell Highway, within the City of Busselton. Known as the development hub of the region, Vasse as a community and town centre is providing exceptional growth in the supply of residential and commercial land and building construction. Its evolution is significantly boosting the local economy, population growth and employment opportunities within the region. Accompanying road and infrastructure construction is programmed to run continuously over the next 8 to 10 years ensuring Vasse is the central link between Busselton, Margaret River and Dunsborough, approximately 230km south of Perth. Perth 2.5 hours DUNSBOROUGH Margaret River 30 minutes 2
Vasse Village is located at the gateway to the internationally renowned Margaret River region. The Tavern Opportunity - Lot 107 Suitable organisations are now being sought to buy or lease this outstanding Tavern opportunity at Vasse Village. As the gateway to the internationally renown South West region, Vasse Village will form part of a thriving tourist destination and growing cultural, retail and commercial hub for the greater community. This site is prominently located at the entry to Vasse Village, directly opposite Coles Express service station. The tavern will form an iconic showpiece to the Estate servicing local residents, surrounding communities and South West s thriving tourism industry. Note: The sale or lease of the property is subject to obtaining associated Liquor Licensing approvals. The developer has created Development Guidelines for the Vasse Village Centre and whilst these will not specifically apply to the Tavern built form, materials and colours will form an important element of the building approval process. The developer anticipates a significant and distinctive structure being constructed on the Tavern Site. A draft concept by Oldfield Knott Architects is available on request, with a copy of the site plan shown on page 14 of this Information Memorandum. 3
Lorem ipsum Vasse Village is the place to shop, relax and connect. Overview of Vasse Estate Vasse has been meticulously planned, designed and built to suit the requirements of a modern lifestyle without losing the tranquility and natural surrounds that make the South West of Western Australia such an appealing place to live, work and play. Margaret River - 30 mins BUSINESS PARK NOW SELLING DAWSON ESTATE NOW SELLING Vasse Bypass TAVERN SITE NOW SELLING VASSE VILLAGE Dunsborough - 15 mins Busselton - 10 mins When fully developed Vasse will comprise approximately 2,100 residential lots spread across three interlinked estates. In addition, there will be 150 business park lots, two primary schools, a public high school, private school, National Lifestyle Village, the proposed new Southwest Institute of Technology (SWIT), parks, sports fields and the Wardandi Track, a 40 metre wide linear park that passes through Vasse, ultimately connecting Busselton to Augusta. Lifestyle Village Beach - 3 mins Busselton Bypass The new McDonald s, Coles Supermarket, Coles Express, Medical Centre, café ans specialty stores are now open, with more still to open in 2018/19. Future Primary School Site Armstrong Estate Cape Naturaliste College Vasse Sporting Complex Vasse Primary School Birchfields Estate At the heart of Vasse is the new Vasse Village with its entry incorporating the proposed new Tavern Site, making it the perfect place to shop, relax, connect and enjoy the renowned produce of the surrounding region whether a resident of the area or just passing through. Vasse Estate Master Plan These are just some of the reasons why Vasse is one of the most attractive places to live, visit and invest. 4
Town Centre Vasse Village will be developed as an iconic South West tourism destination and will provide five hectares of retail & commercial space and showrooms upon completion. It currently comprises a Main Street Coles supermarket, café, specialty shops, Medical Centre & Pharmacy, professional offices, highway fast food, service station and newsagent. The National Broadband Network (NBN) is available and connected to Vasse. It provides local businesses and visitors the luxury of conducting business or browsing using the fastest service in the country, creating immense opportunities. The Vasse Development Partners are renowned for exceptional attention to street scape and public space presentation, picturesque boulevards, distinctive public artwork, natural beauty, use of local materials, feature stone work, and country charm. With these features and design elements to be continued through the Village main street and Piazza interface, Vasse Village will be a vibrant, high-quality retail precinct servicing the needs of locals and the extensive tourist traffic passing through Vasse at the gateway to the Margaret River region. Already committed and operating: Full range 3,500m² Coles Supermarket and Liquorland Coles Express service station McDonald s Vasse Medical Centre with Pharmacy and Specialist Services Specialty retail, Newsagency and Professional Offices Space is also available within built form and on available lots to increase this Village Centre offering. 5
Eight of the first eleven lots created in Vasse Village have been sold. Vasse Estate Master Planned Community Highlights 3 NEW RESIDENTIAL ESTATES, 7,500 RESIDENTS AND PROVIDING MORE THAN 1,000 JOBS DEVELOPMENT COMPLETED OR UNDER CONSTRUCTION 2,100 home sites Birchfields Estate - 550 residential lots, with over 500 houses complete Village Centre, providing retail, commercial & showroom opportunities Vasse Primary School - 700 students Business Park of 150 lots Cape Naturaliste Secondary College - 700 students and $32 M expansion 2018-2020 Private and public secondary colleges Two public primary schools National Lifestyle Village commencing 2018 Vasse Sporting Complex initial stages of two AFL sized areas suitable for a range of sports and associated carparks Dawson Estate 380 residential lots with housing commenced/constructed on 280 lots Vasse Village Stage I - First 11 main street lots created with 8 sold and being developed and 3 remaining Coles Supermarket, Coles Express, Medical Centre, fast food and specialty retail open High speed NBN to Dawson residential Estate and the new Vasse Village Proposed site for SWIT (South West Institute of Technology) Wardandi Track - a continuous 108km green belt connecting Busselton and Augusta. It is expected to become one of the South West regions most significant walking and cycling treks in the coming years National Broadband Network (NBN) available and connected (download up to 95.65mb/s, upload up to 38.29 mb/s, ping 6ms) Vasse Village Public WiFi expected August 2018 Source: ABS; URBIS 6
Vasse Village Centre is considered to be the most advanced satellite development in Busselton. Gateway to the South West Vasse is ideally located and positioned to benefit from continuing popularity and growth of the South West region including Busselton, Margaret River, Dunsborough and Augusta. Every year, in excess of 500,000 people are attracted to Busselton with more than 400,000 annual visitors passing through Vasse on the way to Dunsborough, Margaret River and Augusta utilising the Busselton Bypass and Bussell Highway. As the only Town Centre situated on the Bypass roads, Vasse Village Centre is the first Town Centre between Perth, Dunsborough and Margaret River, this together with its highly envious position and prominent exposure, it is not difficult to see why Vasse Village Centre is considered to be the most advanced satellite development in Busselton and one of the most significant developments to the South West Region, poised for exemplary long term growth. 7
Traffic Statistics The location has benefited from consistently growing traffic and improvements to road infrastructure including the construction of the Vasse Bypass, now Bussell Highway, that will provide additional access and vehicle rotation throughout the Vasse Village, whilst also being the main highway to Margaret River and Augusta. The future Bussell Highway extension will be the proposed bypass road to Dunsborough. Napoleon Promenade Traffic Volumes (one direction) Opening of street July 2016: 270 vehicles per day (vpd) Opening of McDonald s December 2016: 1,000 vpd Opening of Coles supermarket November 2017: 2,800 vpd Opening of businesses (lots 102 & 110) June 2018: 3,000 vpd (Local traffic from Dawson and the Vasse Sporting Complex that enter and exit the Village via Napoleon Promenade on the western side are not counted within these traffic numbers.) Vehicle Numbers (average per day over QTR) 3500 3000 2500 2000 1500 1000 500 Combined Daily Traffic Data on Napoleon Promenade and Coomidup Boulevard According to analysis undertaken by Uloth & Associates, the total number of vehicles passing Vasse Village between 1 February 2017 and 31 January 2018 was over 5,900,000. 0 Jul - Sep 16 Oct - Dec 16 Jan - Mar 17 Apr - Jun 17 Jul - Sep 17 Oct - Dec 17 Jan - Mar 18 Apr - Jun 18 Jul - Sep 18 Quarter Traffic Data Note: Coomidup Boulevard opened in April 2018 and traffic counts did not commence on this road until May 2018. 8
All traffic to the regions main attractions and towns including Dunsborough, Yallingup, Margaret River and Augusta pass through this major intersection providing access and exposure to the new Vasse Village Tavern Site. Future traffic flows COOMIDUP BOULEVARD BUSSELL HIGHWAY 6,990 BUSSELL HWY 10,260 It is anticipated that traffic flows will continue to rise along Bussell Highway due to ongoing development and tourism in the South West. This will be supplemented and enhanced with the continued development of Vasse and the new Village. By 2031, traffic flows are projected to increase to: Northerly Street adjacent to the Village Village - 16,330 vpd (101% increase on January 2018 volumes). 5,600 NAPOLEON PROMENADE TAVERN NORTHERLY STREET 8,120 BUSSELTON BYPASS Vasse Bypass adjacent to the Village Village - 17,900 vpd (168% increase on January 2018 volumes). Napoleon Promenade within the Village Village - 10,990 vpd (96% increase on January 2018 volumes). Dunsborough leg of Bussell Highway at Bypass roundabout - 28,520 vpd (178% increase on January 2018 volumes). NORTHERLY STREET ORLANDO BOULEVARD 13,020 January 2018 Traffic counts (both directions) 9
Population Stats A Vasse Town Centre Retail Study indicates that the current trade area accounts for around 18.5% of the Busselton population (approx. 7,390 people). The area has grown significantly in recent years with growth expected to continue at a strong level (7.7% from 2016-2021 and 8% from 2026-2031. Source: URBIS). A young, active, affluent population The table on the following page outlines the socio-economic characteristics in detail, according to the latest Census 2016 figures. Key features of this region are: Average household income in Vasse is higher than the Busselton average. The primary Vasse trade area is attracting young families earning good incomes. Only 15% of the Vasse population is over 60, compared with 26% in the remainder of Busselton. In the main trade area the age profile is older, with nearly 27% of people aged over 60. Around 32% of the main trade area population is families with children under 15, compared to nearly 44% in just the Vasse area. 2016 2021 2026 2031 POPULATION Vasse 2,200 3,190 4,690 6,040 Main Trade Area 7,390 9,040 11,590 13,300 Total Busselton 39,700 44,700 50,800 53,600 2011-2016 2016-2021 2021-2026 2026-2031 ANNUAL POPULATION GROWTH % Vasse 8.8% 7.7% 8% 5.2% Main Trade Area 6.4% 4.1% 5.1% 2.8% Total Busselton 4.7% 2.4% 2.6% 1.1% Source: ABS/URBIS The total trade area shows a low proportion of renters, and so too does the Vasse area. Evidence shows Vasse is an affluent area of Busselton and would support higher than average expenditure on food, beverage and other discretionary shopping. In the immediate future, it is expected that these characteristics would be consistent in new residential areas. Over time, as the area and households become more established, the age profile is expected to mature and retail spending propensity is expected to further improve. Source: URBIS 10
Socio-Economic Characteristics Vasse Town Centre Main Trade Area Vasse Main Trade Area Total Busselton WA HOUSEHOLD INCOME Average Household Income 87,281 84,897 83,554 102,387 Per Capita Income 32,597 35,544 35,897 40,759 AGE DISTRIBUTION Aged 0-14 28.5% 22% 20.3% 19.3% Aged 15-24 10.7% 9.4% 9.9% 12.6% Aged 25-39 20.6% 16.8% 16.5% 22.3% Aged 40-59 25.2% 24.9% 27.2% 26.6% Aged 60+ 15.1% 26.9% 26.2% 19.2% HOUSEHOLD COMPOSITION Average Household Size 2.93 2.6 2.47 2.58 Families with children under 15 43.8% 32.3% 38.6% 28.7% % Family Households 56.6% 44.9% 40.7% 43.5% HOUSING TENURE Owner 26% 32% 34% 29% Purchaser 50% 40% 36% 41% Renter 24% 23% 29% 29% LABOUR FORCE % Unemployed - - 4.1% 5.3% White collar 56% 61% 61% 66% Blue collar 44% 39% 39% 34% Source: ABS/URBIS 11
32.256 23.945 J J 127.82 24 (494.554) 297.016 20.11 17.72 23.945 20.11 10 32.256 14.241 (46.497) (44.629) 20.684 3 3 10 14.241 (46.497) (44.629) 20.684 71.124 J J 23m WIDE ROA 30.011 1.13 6.2) 74.426 110 478m² 17.5 7 6.5 6 1102 (DP 400047) Site Details - Tavern Site Areas: Lot 107: 2,605m 2 3352m² 37 7.771 112 11.5 15.577 8.5 16.761 Frontage: 9001 (DP 400047) 9540 (DP 404729) 57.1 m - Napoleon Promenade 2.8 m Truncation Access: 9002 (DP 403637) NAPOLEON 30m WIDE ROAD RESERVE PROMENADE 24m WIDE ROAD RESERVE J BUAYANYUP DRAIN Northerly Street to Napoleon Promenade Coomidup Boulevard to Napoleon Promenade 101 14189m² Tillage Lane off Napoleon Promenade Specifical Encumbrances Rights or Interests: Reciprocal parking with developer to construct a portion of the car park area with costs recoverable from the buyer of Lot 107 Right of Carriageways Site specific signage and Building and Development Design 18 8 23 10m WIDE ROAD 'RAIL TO TRAILS' 23m WIDE ROAD RESERVE Guidelines to apply to Lot 107 18 8 4 7 109 1288m² 36.204 73.923 1100m² (TOTAL 2605m²) 37.248 68.723 41.99 25 J 77.523 37.5 31 5.2 6.85 108 1161m² 19.855 29 18.585 4.118 14.2 1 35.5 15 2.828 505 (DP 57391) 2.828 53.794 J 1505m² (TOTAL 2605m²) 555 (DP 65624) 50.525 IDE ROAD RESERVE 80.204 J J BALANCE OF LOT 51 9319m² (TOTAL 14.0742ha) BALANCE OF LOT 51 30.178 30.23 85.035 102 57.063 115 1565m² 30.178 STAGE 1 J 5.3 56.0 25.95 10m WIDE ROAD 6.325 38.479 114 1659m² 7.4614ha 43.7 2.294 107 45.11 Tavern Site 67.302 674m² 4.665 9 23.938 53.135 10.553 0.527 30 4.2 116 1467m² 26.92 23.028 14.3 15.027 201.57 3.384 86 30 3.9571ha (TOTAL 14.0742ha) 47.257 9.999 8.5 26.534 66.064 26.598 NAPOLEON PROMENADE 4.24 20.6m WIDE ROAD RESERVE 24.392 49.097 27.729 17.984 28.057 117 1389m² MINION COURT 106 2111m² Y 24m WIDE ROAD RESERVE 32.23 52.206 28.755 9005 4.403 25.428 38.07 21.007 Medical 68.921 4.24 7.606 8.644 111 1991m² 3155m² 13.149 53.892 121 1737m² 16.54 COOMIDUP BOULEVARD 105 9.889 19.416 68.207 42.5 35 Child Care 166.021 23m WIDE ROAD RESERVE 30.011 1.13 J 110 53.876 6 9.189 10.84 120 595 m² RESERVE FOR RECREATION 3102m² 112 1478m² 6.343 16.598 (276.2) 118 17.5 7 6.5 3352m² 37 15.577 8.5 16.761 46.17 18 8 23 'RAIL TO TRAILS' 22 (D 87677) 13.68 77.523 23m WIDE ROAD RESERVE 4 18 8 7 109 1288m² 16.935 25 37.5 31 2916m² 108 1161m² 46.588 1.472 12.052 & DRAINAGE 113 7.771 6.205 10m WIDE ROAD 36.204 74.426 44.028 52.283 104 2260m² 67.256 77.145 2 11.5 29.881 119 73.923 68.723 1100m² (TOTAL 2605m²) 37.248 6.723 41.99 Tavern Parking 5.2 6.85 19.855 WARDANDI TRACK 9.133 33.75 RESERVE FOR RECREATION 4.118 14.2 1 29 18.585 35.5 14.53 30.943 56.057 25.95 NAPOLEON PROMENADE 6.621 5885m² (61.142) 17.996 24.919 ACCESS RESTRICTION 15 2.828 20.721 505 (DP 57391) 2.828 19 (D 32317) 114 1659m² 30 53.794 51 197.963 16.5m WIDE ROAD RESERVE 50.525 30.178 30.23 85.035 101 14189m² 102 4.0757ha 57.063 115 1565m² 4.665 30.178 STAGE 1 7.4614ha 5.3 34.553 10m WIDE ROAD 6.325 38.479 ASS 43.7 2.294 107 67.302 45.11 674m² 1505m² (TOTAL 2605m²) 552 10.553 0.527 30 23.028 14.3 4.2 116 1467m² 26.92 15.027 144.486 Large Format Retail GANGES LANE 0.965 36.789 28.635 40.147 7.18 (102.016) Tavern Site 201.57 3.384 47.257 NAPOLEON PROMENADE 4.24 49.097 27.729 17.984 SSELL HIGHWAY 30 BIRAK LANE 28.057 (199.436) 117 1389m² 106 2111m² 25.428 38.07 Fast Food 68.921 9005 4.403 88.841 4.24 7.606 8.644 13.149 105 9.889 1991m² 68.207 9.189 10.84 NORTHERLY STREET BUSSELL HIGHWAY 6.343 16.598 118 3102m² 52.283 104 2260m² 1,991m 2 67.256 77.145 2 222.589 119 RESERVE FOR RECREATION & DRAINAGE 6.621 5885m² 29.881 (61.142) 17.996 24.919 ACCESS RESTRICTION 34.553 0.965 36.789 28.635 40.147 7.18 (102.016) 12
Village Centre Access & Parking Subject site area. 13
Vasse Village Centre Tavern Site Opportunity BOUNDARY LINE 2 P104 NAPOLEON PROMENADE BOUNDARY LINE 3 P104 DRIVE THROUGH PROPOSED TAVERN BOUNDARY LINE BIN LOT 107 BOUNDARY LINE 4 P104 BOUNDARY LINE 1 P104 RAILS FOR TRAILS - HERITAGE TRAILS N ORLANDO BOULEVARD SITE PLAN SCALE: 1 : 200 Concept only BUSSELL HIGHWAY Concept prepared by Oldfield Knott Architects 14
For Sale/Lease This exceptional Tavern Site opportunity is available for sale or lease. Respondents interested in this leasing opportunity must address the evaluation criteria set out within the Expressions of Interest document attached as Appendix A. Contact Details This is an open listing so for further information in relation to Vasse and these exceptional opportunities, please contact coordinating agent, Hanson Property Group. (08) 9755 8234 hansonproperty.com.au Geoff Hanson E: geoff@hansonproperty.com.au M: 0418 926 290 T: 08 9755 8234 Sam Hanson E: sam@hansonproperty.com.au M: 0418 926 964 T: 08 9755 8234 Other Agents Enquiries from introducing agents welcome. vasse.com.au 15
Report Acknowledgements (i) Report completed by Urbis in November 2017 (ii) ABS Census of Population and Housing 2016 Disclaimer: The information and illustrations set out in this document are indicative only and are subject to change without notice and therefore should not be relied upon or used in any way. The Vasse Development Partners and its agents make no representations or warranties as to the accuracy of any projections, information, illustration, description or statement contained in this document and shall have no liability whatsoever for any loss or damage which may be suffered to any person who relies wholly or partly upon the information provided. Each interested party must make its own independent assessment and investigation of the business opportunity. 16
APPENDIX A - EXPRESSIONS OF INTEREST FORMS Lot 107 Vasse Village Centre 17
Expression of Interest Form - Lease For the lease of (Tavern Site) Lot 107 Vasse Village Additional information, which supports or clarifies a Registrant's submission may be annexed to this 'Expression of Interest' form. Required Information You are required to submit the following information: Qualifications 1. Details of the legal entity being proposed as Registrant, including ABN and registered address if applicable. Please provide detailed information of company structure including its relationship to other companies, and details of any trusts included in the proposed legal entity. 2. A description of the type/style of business to be operated from the Property including services, products etc that you may bring to the Vasse Commercial Village. 3. Background information on your operations including number of premise elsewhere, years of experience in the industry, size and financial standing of the group and details of key personnel. Registrant's Details Name of company/individual: Street Address: ABN: Telephone: Registrant s Solicitor Company Company: Street Address: Telephone: Proposed Lease Terms Lease Price (state ifgst inclusive or exclusive): $ Deposit (%): Deposit (%): Special Conditions (if any): Expression of Interest Form - Page 1 of 2
Special Conditions (if any) cont d: Visuals of the Premise Photographs or sketches of your other operations which best exemplify what is proposed for this site e.g. external signage, design, quality of fittings etc. The Owners have created Development Guidelines for the Vasse Village Centre and whilst these will not specifically apply to the Tavern built form, materials and colours will form an important element of the building approval process. Licence and Other Requirements The sale of the property is subject to obtaining associated Liquor Licensing approvals. I/We the Registrant hereby submit our Expression of lnterest. / / 20 Signed for an behalf of the Registrant Date Name of Signatory (please print) Invitation to Treat Please note that there is no obligation on the part of Hanson Property Group ( the Agents ), or Perron Developments Pty Ltd and Stawell Pty Ltd (the Owners ) to progress any of the submissions and all parties identified by the Agents as preferred are subject to approval by the Owners. The Agent s and The Owners have the right to: Use their absolute discretion in the selection of the preferred purchaser; Make an offer including terms in their absolute discretion Amend an offer following discussions with the preferred purchaser. Withdraw from discussions at any stage. Whilst every attempt has been made to provide accurate information to the invited parties, The Agents and Owners take no responsibility for any costs incurred by those parties making submissions arising from errors or omissions in the information provided. Furthermore, the party making a submission acknowledges that it does so entirely at its own cost in all events. Expression of Interest Form - Page 2 of 2